Aluminium on the London Metal Exchange closed lower to end the week's trading on Friday April 13, after a record-breaking week that resulted in a six-year high and 9% price increase. The light metal's volumes recorded over 30,000 lots throughout the week, despite the price dropping 1.7% at the close of trading today. "Aluminium prices continue to push higher while the market scrambles t...Read More
The threat of further manganese ore price falls, from recent highs, is boosting activity in Chinese ports because some buyers are avoiding seaborne cargoes amid high costs for payment terms and facilitation, and fears of material devaluing on water, market sources told Metal Bulletin. Manganese ore prices rose sharply between late 2017 and March this year, prompting a backlash from consumers in Ch...Read More
Alumina prices soared on Friday April 13, and Metal Bulletin's benchmark alumina index set an all-time high, while the market reacted to the effect of sanctions on UC Rusal. Metal Bulletin's daily fob Australia alumina index settled at $556.67 per tonne on April 13, up 16.7% compared with the previous day's calculation, and the highest number recorded since the index launched in August 2010.The US...Read More
Lead recycler Recylex swung into profit in 2017, reporting net earnings of ?,?18 million ($22.2 million) thanks to soaring metal prices and higher output, the company said on Friday April 13.That compared with the annual loss of ?,?10.1 million in 2016, when the company was heavily affected by a fine imposed by the European Commission as a penalty for taking part in a price-fixing cartel."While th...Read More
Rio Tinto is declaring force majeure on some of its contracts after reviewing its arrangements with UC Rusal in light of US sanctions on the Russian aluminium producer. "As a result of the imposition of these sanctions, Rio Tinto is in the process of declaring force majeure on certain contracts and is working with its customers to minimize any disruption in supplies," Rio...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
An overview of China's minor metals markets in the week of April 9-13 and the reasons for any price moves.Read More
European secondary aluminium prices have risen for the first time in over two months following a week of market unrest, limited availability and strong London Metal Exchange prices. Metal Bulletin's assessment of secondary aluminium 226 diecasting ingot prices climbed to ?,?1,770-1,810 ($2,184-2,233) per tonne on Friday April 13, up from ?,?1,740-1,790 per tonne on April 6. "This has been the...Read More
Global scrap prices showed mixed fortunes in the week from Monday April 9 until Friday April 13, with Turkish prices showing volatility while further declines were recorded in other major scrap markets.Although Turkish import scrap prices for Northern Europe-origin material were up by $0.59 per tonne week-on-week on Friday after mills returned to buying activity, small decreases were recorded in I...Read More
German steelmakers have settled their monthly scrap contracts for April largely in line with March prices, sources told Metal Bulletin on Friday April 13.Metal Bulletin's monthly price assessment for domestic grade-E3 scrap in Germany for April was ?,?280-300 ($346-370) per tonne delivered, stable month-on-month.The negative trend settled in the international scrap market had no effect on German s...Read More
Comex copper prices rebounded in the US morning on Friday April 13 amid growing optimism that seasonal demand trends will continue to support the red metal throughout 2018. Copper for May settlement on the Comex division of the New York Mercantile Exchange rose 2.05 cents or 0.7% to $3.0840 per lb. Trade has ranged from $3.0525 to $3.0925. The red metal has been unable to establish a firm price di...Read More
Bargain hunting has returned to the base metals complex in the morning of Friday April 13, lifting prices on the London Metal Exchange by 0.6% on average. Trade tensions between the United States and China have relaxed in recent days after Chinese President Xi Jinping struck a conciliatory tone in a keynote speech. Meanwhile, US President Trump has toned down his rhetoric on military intervention...Read More
Coated coil prices have decreased in Turkey because demand is still weak in the local and export markets, Metal Bulletin was told on Friday April 13.Domestic pricesOne Northern Turkish producer was offering 0.50mm hot-dipped galvanized coil (HDG) at $790-800 per tonne ex-works this week.A second producer in the same region was offering similar product at $825 per tonne ex-works, down from the prev...Read More
Most flat steel prices in Turkey's domestic and export markets have gone down this week, and demand was still poor, market participants told Metal Bulletin on Friday April 13.Buyers were cautious because the Turkish lira lost value during the week, and also because of the threat of war between the United States and Russia, which could begin across the border in neighboring Syria.US President Donal...Read More
ArcelorMittal has told the European Commission (EC) it plans to sell-off a raft of its European flat steelmaking assets to seal its acquisition of Italian producer Ilva, the company said on Friday April 13.ArcelorMittal is proposing to sell all of the assets, and not simply a selection of them, a company spokesman confirmed to Metal Bulletin on Friday.Any sales would be conditional upon completion...Read More
Metal Bulletin reviews the major stories that have affected the steel market over the past week.Seaborne iron ore prices rebounded on Friday April 13 to $65 per tonne cfr amid gains in China's steel and futures markets.The East Asian country's focus on environmental protection continues to affect miners producing low-grade iron ore, which have had to offer price discounts on their products, althou...Read More
Indian local secondary billet prices have risen by at least 1,700 rupees per tonne in the current week on increased demand from rebar mills.Prices for Indian domestic secondary billet, mainly produced through induction furnace route, on Friday April 13 were 35,000-35,200 rupees ($xx-xx) per tonne ex-mill, an increase of 1,700 rupees per tonne compared with Metal Bulletin's assessment last week of...Read More
Steel product sales at Russia's largest steelmaker, Novolipetsk Steel (NLMK) rose by 13% year on year in the first quarter of 2018 to 4.15 million tonnes, up from 3.67 million tonnes in the same period in 2017. The increase was due to higher slab sales in NLMK's export markets and rising long steel sales in Russia, the company said.The company sold 1.82 million tonnes of slabs from its L...Read More
Global scrap prices showed mixed fortunes in the week from Monday April 9 until Friday April 13, with Turkish prices showing volatility while further declines were recorded in other major scrap markets.Although Turkish import scrap prices for Northern Europe-origin material were up by $0.59 per tonne week-on-week on Friday after mills returned to buying activity, small decreases were recorded in I...Read More
German steelmakers have settled their monthly scrap contracts for April largely in line with March prices, sources told Metal Bulletin on Friday April 13.Metal Bulletin's monthly price assessment for domestic grade-E3 scrap in Germany for April was ?,?280-300 ($346-370) per tonne delivered, stable month-on-month.The negative trend settled in the international scrap market had no effect on German s...Read More